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 Battle over using credit-based Insurance Score

Battle over using credit-based Insurance Score

Washington Insurance Commissioner Mike Kreidler, is being sued by the American Property Casualty Insurance Association (APCIA) in order to stop an emergency ban on credit-based insurance scores for ratings and underwriting insurance.

The unilateral action by the Commissioner’s office exceeds his authority.

The new regulations actually prevent consumers from benefiting in a competitive private market-APCIA senior vice president, general counsel, and corporate secretary Claire Howard. The regulations will affect auto, home, and renters’ insurance policies if allowed to stay on the books. 

Consumers pay less of auto, home and renters’ insurance due to credit-based insurance scores

Allies of the commissioner believe the current practice of using credit-based insurance unfairly benefits those who are financially sound and not those with clean driving performance.

Superior Court in Thurston County, WA will decide if the commissioner’s efforts are permissible. 

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